(This is CNBC Pro’s live coverage of Thursday’s analyst conference call and Wall Street chatter. Refresh every 20-30 minutes to see the latest posts.)Among the stocks analysts were talking about on Thursday were a fast-casual food chain and a video game maker. Morgan Stanley cut its rating on Cava to equal weight, citing valuation concerns. Meanwhile, Redburn Atlantic gave Take-Two Interactive a buy recommendation. Check out the latest conference call and chatter below. All times ET. 6:05 a.m.: Bernstein Bullish on Marriott According to Bernstein, investors should ride the recent decline in Marriott shares. The firm raised the stock to outperform from market perform in a note. It also raised its price target to $262 from $247, indicating a 15.1% upside from Thursday’s closing price. Marriott shares have fallen 9% in the past six months and about 14% year to date on concerns about a slowdown in consumer spending. MAR 6M MAR IN LAST 6 MONTHS “Marriott is trading at a record discount to Hilton despite identical guidance to Hilton on NUG+RevPAR, and we expect big advances in tech and midscale over the next 12 months,” wrote analyst Richard Clark. Clark highlighted Marriott’s upscale consumer and international exposure. “It’s a good opportunity to buy a quality name at a discount,” Clark added. — Hakyung Kim 5:44AM: Morgan Stanley Downgrades Cava Morgan Stanley has stepped to the sidelines on Cava after the stock more than doubled in 2024. Analyst Brian Haber downgraded the stock from overweight to equal weight. He raised his price target on the stock to $110 from $90, but the new target price is more than 7% below the stock’s closing price on Wednesday. Haber said the downgrade is not due to a lack of confidence in Cava, but rather a “valuation call.” “To be clear, we remain fans of the company and believe the fundamental story and KPIs remain positively tilted, leading to likely upward revisions to expectations over the next 12 months, if not as much as in the past 12 months,” Haber wrote in a note. “However, even if our expectations beat consensus after Q2 earnings, this is no longer a new buy for us as our OW rating would suggest, as we see no upside room in the base case even if we stick to our framework, and a more balanced bias towards risk/reward,” he added. That said, the analyst thinks Cava stock is a promising holding for long-term investors. Shares fell more than 3% before the close on Thursday. CAVA YTD Mountain CAVA YTD — Hakyung Kim 5:44 a.m.: Redburn Atlantic issues a buy recommendation on Take-Two Interactive According to Redburn Atlantic, Take-Two Interactive should outperform going forward. Analyst Hamilton Faber initiated coverage on the video game maker with a buy recommendation. His price target of $194 suggests a 22% upside from Wednesday’s closing price. “Take-Two is set to release Grand Theft Auto VI, the next iteration of the world’s most successful crime video game series, a genre the company dominates, in about a year,” Farber said. “To say this release will be transformative is an understatement: we expect operating profits to triple over the next few years.” Grand Theft Auto VI is scheduled for release in 2025 after several delays. Take-Two shares are down 1% this year, lagging the broader market. TTWO YTD Mountain TTWO YTD — Fred Imbert
All the market-moving chatter on Wall Street Thursday
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